Aker BP, Japex trade package of offshore Norway E&P interests
Aker BP has agreed to a license swap with Japex Norge involving two current development projects in the Norwegian Sea and two discoveries in the North Sea.
Assuming approval by the Norwegian authorities, Japex will receive a 10% stake in the Aker BP-operated Alve Nord development and 3.5% in the Equinor-operated Verdande development.
Alve Nord is one of three gas-condensate discoveries grouped together in the Skarv Satellite Project (SSP). Alve Nord, Idun Nord and Ørn are all under development via four-slot subsea templates and two wells, all tied back to the Skarv FPSO in the northern Norwegian Sea.
Aker BP estimates the total recoverable resources at about 120 MMboe and expects to deliver first gas in third-quarter 2027.
Verdande, in 350-380 m water depth, comprises the Cape Vulture and Alve North-East discoveries from 2017 and 2020, with combined recoverable resources of 36.3 MMboe. Both will prolong the life of the Norne FPSO via subsea tiebacks.
In exchange, Aker BP will receive a cash consideration of $14 million and Japex Norge’s entire Northern North Sea portfolio.
This includes a 15% interest in the Kjøttkake discovery (in PL1182S), 10% in the Kveikje discovery (PL293B/PL293CS) and 20% in PL1212S. The deal strengthens Aker BP’s position in Kjøttkake, which like Kveikje is part of a growing cluster of discoveries in the Troll area.
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